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Between May and June of 1994 total employment in the US economy fell from 122872,000 to 122430000 a decline of 442000 At the same time the number of unemployed dropped by

Between May and June of 1994, total employment in the U.S. economy fell from 122,872,000 to 122,430,000— a decline of 442,000. At the same time the number of unemployed dropped by 85,000 from 7,902,000 to 7,817,000 and the unemployment rate fell a bit from 6.042% to 6.001%.
A. Explain how can unemployment fall when the number employed is also falling?
B. From these numbers, calculate how large the labor force was in May and June of 1994.

May 01 2020 View more View Less

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